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13 1986

FINANCE ACT, 1986

FIRST SCHEDULE

Amendment of Enactments

Section 3 .

Amendments Consequential on Changes in Personal Reliefs

1. The Income Tax Act, 1967 , is hereby amended in accordance with the following provisions:

(a) in section 138—

(i) in paragraph (a), by the substitution of “£4,000” for “£3,800” (inserted by the Finance Act, 1985 ),

(ii) in paragraph (b), by the substitution of “£2,500” for “£2,400” (inserted by the Finance Act, 1985 ) and of “£4,000” for “£3,800” (inserted by the Finance Act, 1985 ),

and

(iii) in paragraph (c), by the substitution of “£2,000” for “£1,900” (inserted by the Finance Act, 1985 ),

(b) in section 138A (2) (inserted by the Finance Act, 1985 ), by the substitution of “£1,500” for “£1,400” and of “£2,000” for “£1,900”,

and

(c) in section 138B (1), by the substitution of “£700” for “£600” (inserted by the Finance Act, 1981 ) in each place where it occurs.

2. Section 8 of the Finance Act, 1974 , is hereby amended, in subsection (1), by the substitution of “£400” for “£200” (inserted by the Finance Act, 1982 ) and of “£200” for “£100” (inserted by the Finance Act, 1982 ).